F No 370142/19/2017-TPL Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes New Delhi, Dated 15th June, 2017 Subject: Draft Notification of exception, modification and adaptation in respect of foreign company said to be resident in India under Section 115JH of the Income-tax Act, 1961– comments and suggestions-reg. Finance Act, 2016, inter… Read More »

The Union Finance Minister to chair the 17th Meeting of the GST Council on Sunday, 18th June, 2017 Press Release by Ministry of Finance , Govt of India on 15-June, 2017 The Union Minister for Finance, Defence and Corporate Affairs, Shri Arun Jaitley will chair the 17th Meeting of the GST Council scheduled to be held… Read More »

CBDT invites comments and suggestions on the Draft Notification in respect of foreign company said to be resident in India under Section 115JH of the Income-tax Act, 1961 Finance Act, 2016, inter alia, introduced special provisions in respect of foreign company said to be resident in India on account of Place of Effective Management (PoEM)… Read More »

Reduced Liability of Tax on complex, building, flat etc. under GST Press Release by Ministry of Finance , Govt of India , 15-June, 2017 The CBEC and States have received several complaints that in view of the works contract service tax rate under GST at 12% in respect of under construction flats, complex etc, the… Read More »

CIRCULAR NO 4/2007 SECTION 28(I) OF THE INCOME-TAX ACT, 1961 : DISTINCTION BETWEEN SHARES HELD AS STOCK-IN-TRADE AND SHARES HELD AS INVESTMENTS CIRCULAR NO 4/2007, DATED 15-6-2007 1. The Income-tax Act, 1961 makes a distinction between a “capital asset” and a “trading asset”. 2. Capital asset is defined in section 2(14) of the Act. Long-term capital assets and gains are… Read More »

Form GSTR 1 to 11 Final GST Return Rules approved by GST Council on 03.06.2017 . Following are the GST Return Formats as per the final GST Return rules released by GST Council Form GSTR 1 Form GSTR 1A Form GSTR 2 Form GSTR 2A Form GSTR 3 Form GSTR 3A Form GSTR 4 Form GSTR 4A… Read More »

Form GSTR 10 [See Rule —-] Final Return under ___ of Goods and Services Act, 2016 (For taxable person whose registration has been surrendered or cancelled) Final GST Return Rules approved by GST Council on 03.06.2017 Final GST Return Formats approved by GST Council 03.06.2017 Download GSTR 10 in PDF

GSTR 9 [See Rule…..]. ANNUAL RETURN [To be furnished by the 31st December of the next Financial Year] Final GST Return Rules approved by GST Council on 03.06.2017 Final GST Return Formats approved by GST Council 03.06.2017 Download GSTR 9 in PDF

Form GSTR 6 [See Rule…..] Return for input service distributor Final GST Return Rules approved by GST Council on 03.06.2017 Final GST Return Formats approved by GST Council 03.06.2017 Download GSTR 6 in PDF

Form GSTR 5A (See Rule —-) Details of supplies of online information and database access or retrieval services by a person located outside India made to non-taxable persons in India Final GST Return Rules approved by GST Council on 03.06.2017 Final GST Return Formats approved by GST Council 03.06.2017 Download GSTR 5A in PDF

Form GSTR 2 [See Rule…..] Details of inward supplies of goods or services Final GST Return Rules approved by GST Council on 03.06.2017 Final GST Return Formats approved by GST Council 03.06.2017 Download GSTR 2 in PDF

Exchange Rate of Foreign Currency Relating To Imported and Export Goods Notified In exercise of the powers conferred by section 14 of the Customs Act, 1962 (52 of 1962), and in supersession of the notification of the Central Board of Excise and Customs No.52/2017-CUSTOMS (N.T.), dated 1st June, 2017, except as respects things done or… Read More »

How to take Input Tax Cedit on Closing Stock under GST Following are the general conditions for taking input tax credit on closing stock under GST :- Carry forward of CENVAT/VAT in the last return can be claimed as a credit under GST. GST TRAN 1 shall be filed within 90 days Carry forward of Cenvat… Read More »

Form GST TRAN 2 (See Rule…) [ Final GST Transition Rules approved by GST Council 03.06.2017 ] Details of inputs held on stock on appointment date in respect of which he is not in possession of any invoice/document evidencing payment of tax carried forward to Electronic Credit ledger. Download Form GST TRAN 2 in PDF

GST REG 1 to 30 Final GST Registration Rules Approved by GST Council 18.05.2017 . Following are the new GST Registration Formats as approved by GST Council Form GST REG 1 Form GST REG 2 Form GST REG 3 Form GST REG 4 Form GST REG 5 Form GST REG 6 Form GST REG 7 Form… Read More »

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